Newborn babies have not been exposed to an increased health risk by their mothers being vaccinated against Covid-19, a study has found.
On the contrary, the research indicated the chances of babies of inoculated mothers developing serious neonatal complications were reduced.
The largest study focusing on the safety of newborn babies whose mothers were vaccinated during pregnancy found the mortality rate was reduced.
Lead author Mikael Norman, professor of paediatrics and neonatology at the Karolinska Institutet in Solna, Sweden, told The National his team was surprised at the results and remained puzzled over the reason behind the higher rates of protection afforded to babies of immunised mothers.
"The lower risk for neonatal death and neonatal brain lesions in babies to mothers who were vaccinated in pregnancy surprised us," he said.
"We did not expect the lower risk for neonatal death to be so robust, even after taking several background factors into account, such as maternal age, BMI, education, country of birth, smoking status, season of conception, parity, multiple births and gestational age.
"Analyses restricted to women without Covid-19 in pregnancy, or to infants born at term, infants without birth defects and singleton births did not alter the findings.
“We made several attempts to explain this finding. A direct vaccine effect is unlikely. Previous studies have shown that the vaccine does not cross the placenta and that it cannot be found in umbilical cord blood.”
The study, published in the medical journal JAMA, was a collaboration between Swedish and Norwegian scientists.
Researchers observed 200,000 newborns in both countries and conducted seven subgroup analyses of women and their babies.
Prof Norman said it was of vital importance to understand the root causes of the findings.
“No matter how we look at it, the finding remains and therefore we cannot say what the lower risk of death among infants of vaccinated women relates to,” he said.
"So far, we haven´t decided how to proceed. While we have large numbers of women and robust data, we are limited by the variables available in our national registers."
The researchers used national registers in Norway and Sweden and included 98 per cent of all newborn babies of women who became pregnant after Covid-19 vaccines became available.
All births from gestational week 22 onwards were included.
The first baby analysed was born in June 2021 and the last in January 2023. All babies were followed up for at least one month or for as long as they were admitted to a neonatal unit.
The study included 196,470 newborns of whom 48 per cent of their mothers had been vaccinated with one or more doses of an mRNA vaccine against Covid-19.
Almost 80 per cent had received the Pfizer/BioNTech shot and a little more than 20 per cent had had the Moderna vaccine.
In addition to a lower number of infant deaths, the researchers also found a significantly reduced risk of two other serious complications in infants born to mothers who had been vaccinated.
In total, 15 neonatal complications and conditions were studied.
“We saw lower rates of cerebral haemorrhages and hypoxia-ischemic conditions of the brain in the newborns of vaccinated than in babies of unvaccinated in pregnancy, while the incidence of other bleeding, blood clots or inflammation in various organ systems did not differ between the groups,” Prof Norman said.
He said the findings were of “great importance” for health professionals offering counselling, authorities issuing recommendations and for anyone who will become pregnant in the future.
“Covid-19 is still present in society and is probably something we will have to deal with for a long time,” he said.
“It is therefore very important for the 100,000 women who become pregnant every year in Sweden, and the 130 million in the world, to know that vaccination with mRNA-vaccines against Covid-19 is safe for their babies. We found no increased risks – if anything, infants to vaccinated women had lower risks for some severe outcomes.”
He said he hoped the research would encourage more people to take up the vaccine.
"Our findings are good news for pregnant women who want to protect themselves and their babies in the future," Prof Norman said.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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